Expected Moves

Given limited cash and high leverage, investors expect Omeros to pursue an equity raise, debt exchange, or other balance-sheet transaction by autumn 2026; the terms of any deal at a $12.00 base share price will drive valuation reset.

Management is expected to provide end-of-year clinical and regulatory updates on its lead immunology and complement programs around late 2026, a binary setup for valuation at a $7.0 share price.

Q3 2026 earnings, expected around November 9, 2026, will update the trajectory of revenue, EPS, and cash burn at a $9.5 share price and indicate whether Omeros is transitioning toward a more durable profitability profile.

Q4 2026 earnings and initial 2027 guidance at a $4.5 share price will signal whether Omeros has stabilized its P&L and funding plan after a volatile 2026.